A manufacturing company prepays its insurance coverage for a three-year period. The premium for the three years is $2,100 and is paid at the beginning of the first year. Sixty percent of the premium applies to manufacturing operations and forty percent applies to selling and administrative activities. What amounts should be considered product and period costs respectively for the first year of coverage? 
Definitions:
Social Media
Platforms and technologies that enable users to create, share content, and participate in social networking online.
Underachievement
The condition of performing below one's potential or capability, often measured by a significant discrepancy between achievement and ability.
Stomachaches
A general term for pain or discomfort felt in the abdominal area.
School Atmosphere
The overall psychological and social environment within a school, shaped by its physical conditions, teaching methods, and interpersonal relationships.
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